SMM Brief on SHFE Lead Futures (2013-7-30)

SHANGHAI, Jul. 30 (SMM) – On July 30, SHFE 1309 lead contract price started at RMB 13,760/mt and remained in a narrow range since investors are cautious before the release of China’s official PMI and the Fed’s policy meeting. Prices eventually ended at RMB 13,780/mt. Trading volumes for the most active contract fell 112 lots to 90 lots, and holdings fell 40 lots to 2,432 lots. SHFE lead prices will be hard to rise as both macroeconomic conditions and market fundamentals remain negative.